ASTANA, Kazakhstan, April 26. The National Bank of Kazakhstan and the Central Bank of Türkiye have signed a memorandum of understanding, TurkicWorld reports.

The document was signed by the chairmen of the banks at the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington.

The main goal of the document is to strengthen bilateral relations, exchange information, and establish best practices in the areas of activity of central banks.

In particular, the parties plan to cooperate in studying macroeconomic trends, developing financial markets, and studying the activities of central banks in the fields of monetary policy, macroprudential policy, financial stability, and digital financial technologies, as well as in other areas.

The National Bank of Kazakhstan and the Central Bank of Türkiye plan to develop cooperation through mutual dialogue and the exchange of experience and expertise, including joint research activities.

Notably, Türkiye is one of the main trading partners of Kazakhstan. Thus, the volume of trade turnover between Kazakhstan and Türkiye amounted to $6 billion in 2023.

At the same time, in the structure of trade turnover, exports to Türkiye for the above period amounted to $3.9 billion.

In addition, imports from Türkiye from January through December 2023 increased by 27 percent and amounted to $2 billion.